The Federal Capital Territory (FCT) High Court has granted bail to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, setting the bail sum at ₦2 billion.
Emefiele, who faces an eight-count charge including allegations of unlawful acquisition of a 753-unit housing estate and misappropriation of billions of naira through proxy accounts, was granted bail following his arraignment.
In his ruling, Justice Halilu Yusuf noted that Emefiele had previously been granted bail in three separate criminal cases and found no evidence suggesting any violation of bail conditions.
Consequently, the court admitted him to bail on the condition that he produce two sureties who must own property valued at ₦2 billion within the court’s jurisdiction—specifically in the Asokoro, Maitama, or Wuse 2 districts of Abuja.
The judge also ordered Emefiele to submit his travel documents to the court and mandated that he perfect the bail by Wednesday; failure to comply would result in his remand in custody.
The bail application was presented by Emefiele’s lawyer, Matthew Burkaa, and was not opposed by the prosecution, represented by Rotimi Oyedepo.
The prosecutor urged the court to consider imposing additional bail conditions distinct from those previously set by other courts.
This latest development marks a critical phase in the high-profile case involving allegations of financial misconduct and property acquisition against one of Nigeria’s most prominent former public officials.
